
Justin Sun, the founder of Tron, transferred ETH from the Huobi exchange and invested it in the Lido platform.
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The last week, Sun applied for a withdrawal of 80,251 ETH to Lido, based on crypto tracker, Lookonchain data. The cryptocurrency entrepreneur has already taken 43k ETH and deposited the tokens to Binance.
This move concerned ETHholders whether Sun is going to eradicate his complete ETH stake, which could result in a sharp drop in the value of the token.
It also tracks the movement of a crypto address associated with Ethereum co-creator Vitalik Buterin.
The Lido platform saw a staking of 90,070 ETH from the total 137,325 withdrawals by Sun in the past month. The value of staking assets on Lido is clear, Sun said, indicating that Sun is confident in the value of its assets.
Bitcoin, Ethereum, and Cryptocurrency fall below $1,600 Amidst Israel-Hamas War, Cryptocurrency SV Among Top Losers.
In the past year, Ethereum prices have experienced a 22.1% increase, while its market cap dominates 17.2%.
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